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Due Diligence Satisfied On $3M Cash Disposal Of Non-Core Assets
DC Two Limited (ASX: DC2) (“DC Two” or the “Company”), a vertically integrated revenue generating data centre, cloud, and software business, is pleased to confirm the satisfaction of the Buyer’s due diligence in relation to the disposal of its non-core infrastructure assets for a total consideration of $3 million in cash.
- Satisfaction of Buyer’s due diligence in relation to the disposal of the Company’s non-core infrastructure assets for $3 million in cash (before costs).
- Subject to completion, the Company will strengthen its financial position to empower its organic growth strategy and development of a unique technology offering within the cloud microservices sector.
- Company to pursue value accretive M&A transactions to acquire technology and attract talented individuals, enhance capabilities and market position, driving further organic growth.
- Expected completion of this transaction by end of July 2023.
The Company is pleased to confirm the satisfaction of the Buyer’s due diligence in relation to the disposal of its non-core infrastructure assets. Subject to the remaining conditions precedent and completion, the agreement with D Comm Infrastructure Pty Ltd, a subsidiary of D Comm Ventures Pty Ltd, a leading Web 3.0 technology company, (Buyer) will generate $3 million in cash for the Company, before costs.
The $3 million cash consideration will strengthen the Company’s financial position and will empower it to pursue its organic growth strategy, particularly in developing a unique technology offering within the cloud microservices sector based on its core assets and service offerings.
Furthermore, the Company will be well-positioned to pursue value accretive M&A transactions to acquire technology and talented individuals, expand its capabilities and enhance its market position, driving further organic growth.
The completion of this transaction is expected by the end of July 2023.
This article includes content from DC Two Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.